Borrower requested a $157,000 loan to purchase a single-family, fix and flip property in Holiday, Florida. The borrower paid $205,000 for the property and has a $27,000 construction budget planned, primarily cosmetic. There will be a construction hold back of $13,000, with a draw schedule. Borrower is a real estate broker and repeat DKC client.
Collateral:
Type: Fix and Lease
Description:
This request is for a $160,000 refinance loan , secured by a quadplex located in Lakeland, FL. The property, built in 1954, consists of four 2-bedroom, 1-bathroom units, each approximately 600 sq. ft., totaling 2,400 sq. ft. of heated living area, with four separate electrical meters and individual water connections. Borrower preferred exit strategy is to refinance.
- Loan Amount: $160,000
- Date: December 2025
